Simulation Sciences Inc.: The Brea provider of...

Simulation Sciences Inc.: The Brea provider of commercial simulation software and related services posted third-quarter net income of $809,334, or 10 cents a share, up from the $327,777, or 5 cents a share, for last year’s third quarter. Revenue increased 46%, to $12.1 million, from $8.3 million.

The company attributed the revenue gain to increased sales in prior periods, renewals of licenses for higher fees, licenses to new customers and the effect of a change in contract terms that increased revenue.

Net income for the first nine months rose 71%, to $1.6 million, or 21 cents a share, from $948,035, or 14 cents a share, for the same period last year. Revenue rose 44%, to $33.9 million for the period, from $23.5 million.